Premier, Inc. (NASDAQ:PINC) Stake Lowered by Geode Capital Management LLC

Geode Capital Management LLC lowered its holdings in shares of Premier, Inc. (NASDAQ:PINC) by 4.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,658,011 shares of the company’s stock after selling 81,462 shares during the quarter. Geode Capital Management LLC owned about 1.73% of Premier worth $35,160,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in PINC. Brandes Investment Partners LP boosted its stake in Premier by 123.1% during the 4th quarter. Brandes Investment Partners LP now owns 842,326 shares of the company’s stock valued at $17,857,000 after purchasing an additional 464,710 shares during the period. Franklin Resources Inc. bought a new stake in Premier during the 4th quarter worth approximately $5,275,000. Assenagon Asset Management S.A. raised its holdings in shares of Premier by 109.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 468,524 shares of the company’s stock valued at $9,933,000 after buying an additional 245,239 shares during the last quarter. American Century Companies Inc. grew its stake in shares of Premier by 4.2% during the fourth quarter. American Century Companies Inc. now owns 2,598,731 shares of the company’s stock valued at $55,093,000 after purchasing an additional 104,452 shares during the last quarter. Finally, Advisors Asset Management Inc. raised its position in shares of Premier by 554.7% during the fourth quarter. Advisors Asset Management Inc. now owns 98,945 shares of the company’s stock worth $2,098,000 after acquiring an additional 83,831 shares during the last quarter. Institutional investors and hedge funds own 74.41% of the company’s stock.

Premier Trading Down 0.7 %

Premier stock opened at $19.32 on Thursday. The stock has a 50-day moving average price of $18.66 and a two-hundred day moving average price of $20.40. The company has a market capitalization of $1.76 billion, a PE ratio of -193.18 and a beta of 0.51. Premier, Inc. has a 12 month low of $17.23 and a 12 month high of $23.56.

Premier Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st were issued a dividend of $0.21 per share. The ex-dividend date was Friday, February 28th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.35%. Premier’s dividend payout ratio (DPR) is presently -840.00%.

Insider Activity

In related news, General Counsel David L. Klatsky sold 10,000 shares of the company’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $19.53, for a total transaction of $195,300.00. Following the sale, the general counsel now owns 90,597 shares in the company, valued at $1,769,359.41. This represents a 9.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.96% of the company’s stock.

Analyst Upgrades and Downgrades

PINC has been the topic of several recent research reports. Robert W. Baird reduced their price target on Premier from $20.00 to $19.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 5th. Canaccord Genuity Group decreased their price target on shares of Premier from $21.00 to $19.00 and set a “hold” rating for the company in a research note on Wednesday, February 5th. Finally, Piper Sandler dropped their price target on shares of Premier from $21.00 to $19.00 and set a “neutral” rating for the company in a research report on Wednesday, February 5th. Eight analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $20.17.

Premier Company Profile

Premier, Inc, together with its subsidiaries, operates as a healthcare improvement company in the United States. It operates in two segments, Supply Chain Services and Performance Services. The Supply Chain Services segment offers its members with an access to a range of products and services, including medical and surgical products, pharmaceuticals, laboratory supplies, capital equipment, information technology, facilities and construction, and food and nutritional products, as well as purchased services, such as clinical engineering and workforce solutions.